One of the greatest challenges facing Realtists is the steady decline in African-American homeownership rates across America. Over the last decade, black homeownership rates have shifted from approximately 48% to currently 41%.
Our future as real estate professionals is directly impacted by black housing patterns and ownership rates.
As the credit market remains tight, many of our potential customers are being relegated to renters. Thus, the cost of apartments and rental housing continues to increase throughout the country. According to a recently released study by the Joint Center for Housing of Harvard, “The national vacancy rate has dipped to 7.6 percent, its lowest point in nearly 20 years.” As a result, renters will continue to have less money saved for a down payment on a house.
We can’t allow our families and friends to become destined as life renters. Everyone deserves the opportunity to have access to affordable and sustainable homeownership. Over the next year, NAREB will offer a number of strategies to ensure that current and future generations of African-Americans view homeownership as a viable and real opportunity. Anmeldelse Betway Casino
Antoine M. Thompson
Executive Director
NAREB